The Bangko Sentral ng Pilipinas (BSP) has revealed a new logo, replacing the 10-year old current logo. This will be the third time since the 1993 New Central Bank Act charter created the BSP that its logo has been changed. The current logo was introduced in 2010. The BSP said the new logo is...
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) cut the overnight reverse repurchase (RRP) facility by 25 basis points (bps) to two percent – the lowest policy rate on BSP record -- to boost market confidence and in support of economic recovery amid uncertainties of a...
The Securities and Exchange Commission (SEC) has approved an industry-specific framework for the preparation of the audited financial statements (AFS) of financial institutions to account for the regulatory relief measures extended to them during the pandemic. SEC Memorandum Circular No. 32, Series...
Philippine banks are not only strong but resilient enough to withstand the pandemic-hit financial market and to help prop up an economy in recession, said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “While the impact is still unfolding, the good news is that the financial...
The Bangko Sentral ng Pilipinas (BSP)-led Financial Stability Coordination Council (FSCC) has shifted the way they assess, review and forecast systemic risks because the global COVID-19 pandemic has changed consumer preferences and market risk behaviors, and using “older norms” and...
The Bangko Sentral ng Pilipinas (BSP) has drafted the guidelines for the liquidity risk management of Islamic banks and Islamic banking units (IBUs) that are specific to these banks’ operations. Primarily, the BSP expects IBUs which are units or part of a conventional bank to have separate...
The Bangko Sentral ng Pilipinas (BSP) is conducting its first Consumer Payments Survey (CPS) this quarter in aid of enhancing rules on digital payments to increase its use by as much as 50 percent of all retail payments in three years. In a statement, the BSP said the results of the survey will...
Bank-channelled remittances totaled $21.886 billion as of end-September, down 1.4 percent year-on-year from $22.187 billion, the Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin E. Diokno said the decline in remittances has narrowed and “better than original forecast of five...
Asian central banks and financial regulators agreed to focus on managing systemic risk to ensure financial stability during this COVID-19 pandemic. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno, who co-chaired the Financial Stability Board’s (FCB) Regional Consultative Group for...
The 28-day Bangko Sentral ng Pilipinas (BSP) bills auction yielded lower rate of 1.9621 percent, but it still remained oversubscribed with full P60 billion offer awarded. Banks’ total tenders reached P88.90 billion which was 1.48 times the offer volume of P60 billion. The average rate fell by...
The Bangko Sentral ng Pilipinas (BSP) has suspended its operations and transactions of its payments and settlements, and the trading of the peso-US dollar, among other things, due to typhoon “Ulysses.” The BSP also announced late in the morning of Thursday that it will not be receiving cash...
With banks’ higher provisioning requirements, the industry continue to have lower cumulative net profits as of end-September of P126.78 billion, down 25.93 percent from same period last year of P171.16 billion, based on Bangko Sentral ng Pilipinas (BSP) data. The pandemic-hit banking system...
